The stated mission of the organization is to “coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets, in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.”
The creation of OPEC marked a turning point in the global energy landscape. It gave oil-producing countries a collective voice in the global market and became a platform for cooperation and negotiation. Over time, OPEC expanded to include more members, and its decisions continue to impact global economics, politics, and energy policy.
